Cedar Bluff Sale Comp

Horne_lot2SC_4.13.15
Kingston Corner
LaRosa

9159 Kingston Pike
Knoxville, TN 37923
Submarket: Cedar Bluff/Walker Springs

+/-  11,655 square foot building
Land Area (SF): 54,450 SF
Land Area (AC): 1.25 AC

Frontage: 170′ on N Cedar Bluff Rd
Traffic Count: 19,243 AADT
Parking spots: approx. 75
Use: Shopping Center Retail

Sale Price: $3,850,000
Sale Type: Investment
Price/SF: $330.33/SF
Price/Land SF: $70.71/SF
Price/Land AC: $3,080,000/AC
Sale Date: March 30, 2015
Recorded Buyer: Volunteer Studios Plus Partners, VS LLC, Fort Sanders Partners, Fort Sanders GP and Hembree Partners
Recorded Seller: Horne – Cedar Bluff LLC
Buyer Broker: N/A
Seller Broker: N/A
Occupancy at time of sale: Unknown

Tenants: Tom & Chee, GEICO, Essential Nail & Spa, and LaRosa’s Family Pizzeria

Sources: Knox County Register of Deeds Office, Costar, Courthouse Retrieval System, KGIS, TDOT

Information Deemed Reliable, But Not Guaranteed

Real Estate News Update

Painting With a Twist: New Business Comes to the Arts District
121 S. Gay Street will soon be the home to Downtown Central Painting with a Twist.
Read More

Blessings abound after fire guts Saint George sanctuary
The Rev. Anthony Stratis recognized his congregation’s many blessings amid the rubble of a major fire that gutted the sanctuary of Saint George Orthodox Greek Church early Sunday, hours ahead of the parish’s planned Orthodox Easter services.    Read More

ULI to host tour of $56M research building at Cherokee Farm
If you’ve driven south from downtown Knoxville on Alcoa Highway, you’ve seen the University of Tennessee’s Cherokee Farm campus taking shape. This week, the Urban Land Institute will host a tour of the Joint Institute for Advanced Materials, a $56 million, 140,000-square foot research facility on the campus.    Read More

Interest Rate Hikes Likely in June
The Federal Reserve is signaling that it will likely take action on increasing interest rates in two months, despite recent data that shows a weakened economy. This would be the first rate increase since 2006.   Read More

Uber Mixes In a Softer Approach in New Delhi
Uber Technologies Inc. is fighting a multifront war here in the capital of India, one of the company’s most important and fastest-growing overseas markets.    Read More

A Look at the Tax Year 2015
The 2014 tax season is nearing its end and many taxpayers have already pocketed their refund checks. The Internal Revenue Service says it has processed more than 96 million federal income tax returns so far this year, through April 3. The IRS has issued more than 77 million refunds, with an average refund amount of $2,815.    Read More

Blackstone’s Deal With G.E. Highlights Its Real Estate Holdings
As Blackstone’s top executives fan out across the globe, pitching their services at elite gatherings of investors, they invariably tell the crowd: Hope you guys like this hotel, because we own it.    Read More

Industrial Land at Premium as Users’ Needs Shift
Demand for e-commerce fulfillment centers and new manufacturing facilities has shifted industrial space requirements from large properties to mid-sized buildings, already in short supply following the recession. The shift is contributing to higher prices for infill land parcels.    Read More

Commercial property values up 11% in March from 2014
Commercial property values last month rose 11% year over year, according to Green Street Advisors. Values are up 87% from the low point in 2009 and up 14% from the last high point in 2007.    Read More

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s